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CITY OF GEM LAKE, MINNESOTA <br />RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET <br />TO, THE STATEMENT OF NET POSITION <br />GOVERNMENTAL ACTIVITIES <br />DECEMBER 31, 2016 <br />TOTAL FUND BALANCES FOR GOVERNMENTAL FUNDS <br />Total net position reported for .governmental activities .in. the statement of <br />net position is different. because: <br />Capital assets used in governmental activities .are not financial resources <br />and, therefore,. are not reported in the funds, These capital assets <br />consist of: <br />Buildings <br />Office Equipment <br />Infrastructure <br />Accumulated Depreciation <br />Some of the City's property taxes and special. assessments. will be <br />collected after year-end, but are not available soon enough to pay for the <br />current period's expenditures and, therefore, are reported as unavailable <br />resources in the governmental funds:. <br />Some liabilities are not due and payable in the current period and; <br />therefore, are not reported as fund liabilities. Balances at yearend are: <br />General. ONigation Bonds Payable. <br />Accrued Interest on Long -Term Debt <br />TOTAL NET POSITION OF GOVERNMENTAL ACTIVITIES <br />$ 902,282 <br />12,895 <br />1,131;144 <br />(682,481) <br />$ 168,509 <br />1,363,790 <br />497,799 <br />(.775,0.00) <br />(7,033) (782,033) <br />See. accompanying Notes to Basic Financial Statements.. <br />(7) <br />